Commercial and retail properties rely heavily on highways and roads for access and exposure to existing and potential customers. Because most valuable commercial and retail properties are strategically located in areas providing these benefits, they're often targets for highway expansion or improvements.
Although these changes to roads and highways usually fall under the eminent domain authority of government, the government has an obligation to pay you fair compensation for what they do to your property. This includes not only the value of what they take but also any damage they do to the usability or value of what remains after the project is done.
Many times the project builder (condemnor) undervalues the impact that road changes have on your business and your property. These can include access for customers as well as for pickups and deliveries, compliance with government property regulations and impact on the value of the property that remains after the project is finished. It is important to closely analyze all of these impacts to make sure that you receive full value for what happens to your property.
Give us a call and let's talk about how we can help you make sure you receive maximum value for what happens to your retail or commercial property.
